EDPR boosts profits despite Spain hit

An EDPR-owned turbine

An EDPR-owned turbine

Renewables group EDPR said its profits had remained “resilient” to the negative impacts of Spanish regulation, citing the strength of a geographically-diverse asset base that grew to 8.5GW last year.

EDPR – the world’s third-largest wind power producer – today posted a 2013 net profit of €135m ($185m), 7% up on 2012, on revenues 6% ahead at €1.36bn.

EDPR said the increased revenues came thanks to what it claimed as “asset quality with the highest load factors in the market” and the addition of 502MW, with total output of 19.9TWh in 2013, up 8% on 2012’s level.

The Portuguese-owned company registered a 1% increase to €947m in earnings before interest, tax, depreciation and amortisation (Ebitda).

It said that came despite the impact of regulatory changes in Spain, where government measures to close the Log in to read complete article.

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